Moloney Securities Asset Management LLC trimmed its stake in Reliance, Inc. (NYSE:RS - Free Report) by 49.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,302 shares of the industrial products company's stock after selling 1,272 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Reliance were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its stake in Reliance by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,083 shares of the industrial products company's stock valued at $3,200,000 after acquiring an additional 38 shares during the last quarter. Townsquare Capital LLC boosted its stake in Reliance by 3.1% in the fourth quarter. Townsquare Capital LLC now owns 1,342 shares of the industrial products company's stock valued at $361,000 after acquiring an additional 40 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Reliance by 11.1% in the first quarter. Farther Finance Advisors LLC now owns 401 shares of the industrial products company's stock valued at $116,000 after acquiring an additional 40 shares during the last quarter. Forum Financial Management LP boosted its stake in Reliance by 2.8% in the fourth quarter. Forum Financial Management LP now owns 1,619 shares of the industrial products company's stock valued at $436,000 after acquiring an additional 44 shares during the last quarter. Finally, Lido Advisors LLC boosted its stake in Reliance by 4.9% in the fourth quarter. Lido Advisors LLC now owns 998 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 47 shares during the last quarter. 79.26% of the stock is currently owned by hedge funds and other institutional investors.
Reliance Stock Performance
Shares of NYSE RS traded down $4.47 during midday trading on Friday, hitting $328.09. The company's stock had a trading volume of 368,597 shares, compared to its average volume of 387,698. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 1.49 and a beta of 0.89. The company has a current ratio of 3.17, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $307.83 and a 200 day moving average price of $291.73. Reliance, Inc. has a one year low of $250.07 and a one year high of $333.71.
Reliance (NYSE:RS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $0.11. The company had revenue of $3.48 billion for the quarter, compared to analysts' expectations of $3.44 billion. Reliance had a net margin of 5.65% and a return on equity of 10.77%. Reliance's revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.30 EPS. On average, research analysts forecast that Reliance, Inc. will post 16.98 EPS for the current fiscal year.
Reliance Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, May 23rd. Reliance's payout ratio is currently 34.41%.
About Reliance
(
Free Report)
Reliance, Inc operates as a diversified metal solutions provider and the metals service center company in the United States, Canada, and internationally. The company distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products; and provides metals processing services to general manufacturing, non-residential construction, transportation, aerospace, energy, electronics and semiconductor fabrication, and heavy industries.
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